Thursday, February 10, 2011

I do not usually post about my office's real estate listings.But this is a special situation.The property is owned by a good friend --and some of the finished carpentry work on the home was done by another.Plus I believe it represents an outstanding buying opportunity for the right purchaser.And not only that, it is walking distance to an "almost secret" white sand beach.

Known as “Coco Palms,” it is located on 1.4 acres and is a planned twelve-unit Polynesian-styled residential complex zoned 'Hotel and Resort'. Cantilevered over an ancient fishpond located in the center of the property is a completed thatch-roofed three bedroom, three bath model unit. The property has a total of twelve Condominium Property Regime ('CPR') units with plans included in the sale for the eleven additional units.

Located by the beaches in Keaukaha, just three miles east of downtown Hilo, the future potential uses for this property are many. You could live in the model home and enjoy the large natural fishpond all by yourself.Or build a few units -- or build all eleven. (Plans are included for eleven other homes similar to the model home.) They could be used for friends and family or for vacation rentals – or you could build them and sell them. As the new owner you would control the density and the build out.

The model home is environmentally conscious with a solar hot water system. And, obvious attention-to-detail is evident.Spanning the Oceanside length of the main living level is a spacious ten feet deep lanai with ceiling fans and a granite counter outside of a kitchen pass-through. Inside a great room opens to a gourmet kitchen with granite counters, a cooking island and bar, Koa veneer kitchen cabinets and top-of-the-line stainless steel appliances.

Call me if you would like to learn more.Land ownership is fee-simple and its listing price is $995,000.The Big Island real estate market is gradually starting to improve, so with low interest rates, now might be the time for you to invest in this very special place.

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